Reuters
OECD: South Africa economy could contract 8.2% if second coronavirus wave hits
South Africa’s economy could contract 8.2% this year, and grow just 0.6% in 2021, if a second wave of COVID-19 cases hits the country and its main trading partners, the OECD said on Friday. If a second wave of infections is avoided, the economy will contract 7.5% in 2020 before rebounding 2.5% next year, the OECD said in a report on Africa’s most industrialised economy. South Africa was in recession before the pandemic struck, with recurring power cuts by struggling state utility Eskom and weak business confidence dampening economic activity. President Cyril Ramaphosa’s government has promised to fast-track reforms to raise economic growth potential, but some investors are becoming restless about the pace of change. “South Africa cannot afford to delay reforms. It is essential to undertake...
Apple overtakes Saudi Aramco as world’s most valuable public company
Apple’s stock hit a record high on Friday after reporting blockbuster quarterly results, helping the iPhone maker briefly overtake Saudi Aramco to become the world’s most valuable publicly listed company. Apple’s stock surged to as high as $412.22 a share, putting its market capitalization at $1.762 trillion, according to the share count provided by Apple in a regulatory filing on Friday. Saudi Aramco, which has been the most valuable publicly listed company since going public last year, had a market capitalization of $1.760 trillion as of its last close, according to Refinitiv data. Last up 6.2% at $408.78 in midday trading, Apple’s market capitalization stood at $1.748 trillion. After Apple bought back $16 billion worth of shares in the June quarter, it had 4,275,634,000 outstanding shar...
Fabio Capello: Real Madrid’s Eden Hazard has sunk under weight of expectations
Eden Hazard has struggled to deal with the weight of the Real Madrid shirt following his high-profile move from Chelsea, former Real manager Fabio Capello has said. Hazard joined the Spanish club from Chelsea on a five-year contract for a reported 100 million euros ($116.54 million) ahead of the 2019-20 season. The Belgium international inspired Chelsea to two Premier League trophies during his time at Stamford Bridge but has failed to hit similar heights in Spain, with injuries limiting him to 21 appearances in all competitions this season. “He hasn’t been the player he was at Chelsea and he was injured for a long time, he hasn’t adapted,” Capello told Marca. “I’ve always thought of him as a great player but the Real shirt weighs heavily and Hazard has sunk this year. It’s clear that he’l...
Ethiopian Airlines cargo plane catches fire at Shanghai airport, no casualties
An Ethiopian Airlines’ Boeing 777 cargo plane caught fire while loading cargo at Shanghai Pudong International Airport on Wednesday, the airline said, adding that fire has been contained and none of the crew or ground staff were harmed. The cause of the incident was under investigation, Ethiopian Airlines said in a Facebook post. The aircraft was on a regular scheduled cargo service from Shanghai to Sao Paulo-Santiago, it added. Pictures and videos circulating on Chinese social media showed heavy smoke pouring from an Ethiopian aircraft, and a large section of the upper fuselage appeared scorched. After the fire broke, flights bound for Shanghai Pudong International Airport were diverted to Shanghai Hongqiao International Airport, said aviation data provider Variflight. Get more stories li...
FIFPRO wants specific measures to protect players from overload
Getty Images The global footballers’ union FIFPRO wants concrete safeguards to protect players from fixture overload and the consequent risk of injury. This demand has come as the sport catches up with a backlog of matches following the novel coronavirus stoppage. FIFPRO general secretary Jonas Baer-Hoffmann told Reuters that the union was talking to European clubs and leagues to find ways of protecting players. The sport is already facing an overcrowded calendar for the next three years. “There is the big question of how we manage the load in a very condensed period,” he said. “We can’t just leave it to the mercy of individual decisions because we know how big the pressure is on the players and nobody is going to benefit from additional injuries.” The new coronavirus halted football for t...
Leeds beat Derby 3-1, Barnsley score late to keep survival bid alive
Champions Leeds United mounted a second half comeback to win 3-1 at Derby County while Barnsley’s hopes of staying up in the second-tier Championship were given a huge boost when they beat Nottingham Forest 1-0 with a stoppage time goal on Sunday. Leeds, who sealed promotion on Friday and won the title on Saturday after West Bromwich Albion and Brentford failed to close the gap, extended their lead to eight points with one more round of fixtures left. Derby, who gave Leeds a guard of honour, took the lead when Chris Martin pounced on a pass inside the box and curled his shot past the keeper. The visitors struck back two minutes later when Pablo Hernandez fired home from the edge of the box. Tyler Roberts then threaded a weighted pass through the Derby defence to find Jamie Shackleton and t...
South Africa Super Rugby teams back in training on Monday
South Africa’s Super Rugby franchises will be allowed to start training next week, officials confirmed on Friday, a step closer to a return to the playing field after a frustrating four months. The game has been suspended in the country since March due to the COVID-19 pandemic, with South African Rugby having to sit idle as domestic competitions took flight in New Zealand and Australia. “This is an important first step back to playing, and we have taken it carefully to ensure full compliance and having thoroughly interrogated the regulations with government,” SA Rugby chief executive Jurie Roux said in a statement. “Contact training will not be permitted for the moment but the players will be allowed back onto the field with a rugby ball and back into the gym – while observing strict proto...
Arsenal beat Liverpool 2-1 to end hopes of record points haul
Arsenal capitalised on shocking errors from Liverpool’s Virgil van Dijk and Alisson to beat the champions 2-1 at The Emirates on Wednesday and end their hopes of a record points tally for the Premier League season. The loss means Liverpool, on 93 points, can now only stretch that tally to 99, one short of Manchester City’s record. Arsenal’s first win against Liverpool since April 2015 lifts them one place to ninth in the table on 53 points. The visitors created all the early pressure and opened the scoring in the 20th minute when Sadio Mane lashed in his 17th goal of the season from close range. Yet the home side, playing without their leading scorer Pierre-Emerick Aubameyang, were handed a free pass back into the game 12 minutes later when Van Dijk made a back pass straight into the path ...
Pep Guardiola: Manchester City deserve an apology
Manchester City manager Pep Guardiola said his team deserved an apology, after their two-year UEFA ban from European football was overturned by the Court of Arbitration for Sport (CAS) — a verdict he called “a good day for football”. Guardiola said the club’s reputation had been damaged by the furore around allegations that they broke Financial Fair Play (FFP) rules and fired back at comments from rival managers Jose Mourinho and Juergen Klopp. Mourinho had described the CAS decision to fine City 10 million euros ($11.39 million) for non-cooperation with the investigation as “disgraceful”. “Maybe. The thing about the money, maybe. But Jose and all the managers should know that we were damaged. We should be apologised (to). Because, like I said many times, if we did something wrong, we will...
Google announces $10 billion ‘digitization fund’ for India
Agence France-Presse Alphabet’s Google on Monday said it will spend around $10 billion in India over the next five to seven years through equity investments and tie-ups, marking its biggest commitment to a key growth market. The investments will be done through a so-called digitization fund, highlighting Google’s focus on the rapid pace of growth of apps and software platforms in India, one of the world’s biggest internet services markets. “We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments,” Sundar Pichai, CEO of Alphabet, said on a webcast during the annual “Google for India” event. “This is a reflection of our confidence in the future of India and its digital economy.” Google has already made some direct and indirec...
Barcelona outclass Villarreal after recent disappointments
Barcelona responded to a trying week by thrashing Villarreal 4-1 away to stay alive in the Liga title race, producing one of their best displays under coach Quique Setien. The Catalans had drawn their last two matches to hand more momentum to league leaders Real Madrid but Sunday’s win took them to 73 points after 34 games, four behind their arch-rivals who won 1-0 at Athletic Bilbao earlier on Sunday. An own goal from Pau Torres put Barca in front in the third minute, with Villarreal’s Gerard Moreno levelling on the rebound in the 14th before the visitors restored their lead through an outstanding curling strike from Luis Suarez six minutes later. Antoine Griezmann stretched Barca’s advantage just before the break with a sublime chip, having been dropped from the starting lineup in the la...
Ethiopia dam reservoir filling as talks with Egypt, Sudan stall
The reservoir behind the Grand Ethiopian Renaissance Dam is filling, its water minister said on Wednesday, a day after talks with Sudan and Egypt on the giant Blue Nile hydroelectric project stalled. Sudan and Egypt both fear the $4 billion dam could lead to water shortages in their own nations. “The construction of the dam and the filling of the water go hand in hand,” Ethiopian Water Minister Seleshi Bekele said in televised comments, a transcript of which was provided to Reuters by his office. “The filling of the dam doesn’t need to wait until the completion of the dam.” The water level had increased from 525 metres to 560 metres, he said. The comments by Seleshi did not address whether Ethiopia had closed the gates of the dam. The area has also seen recent heavy rainfall. “My understan...